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16-Bedroom Residential Income - 324 W 51st Street, Los Angeles, CA

$1,650,000

324 W 51st Street, Los Angeles, CA

324 W 51st Street, Los Angeles, CA 90037 - $1,650,000 · 16 bd 7 ba Multi-Family Home for Sale, photo 1 324 W 51st Street, Los Angeles, CA 90037 - $1,650,000 · 16 bd 7 ba Multi-Family Home for Sale, photo 2 324 W 51st Street, Los Angeles, CA 90037 - $1,650,000 · 16 bd 7 ba Multi-Family Home for Sale, photo 3 324 W 51st Street, Los Angeles, CA 90037 - $1,650,000 · 16 bd 7 ba Multi-Family Home for Sale, photo 4 324 W 51st Street, Los Angeles, CA 90037 - $1,650,000 · 16 bd 7 ba Multi-Family Home for Sale, photo 5
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Description

Renovated six-unit income property in South Park (South LA). Short sale, subject to lender approval. The 1922 front building was remodeled under 2021-22 LADBS permits into four 3-bedroom units. Two are 3/1.5 down, two are 3/1 up. Two detached 2 bed / 1 bath ADUs have a 2023 Certificate of Occupancy. Renovated kitchens with shaker cabinets, stainless appliances, built-in microwaves and vinyl plank floors. Mini-split heat and AC in every unit. The four front units have dishwashers and in-unit stacked laundry. Gas and electric are separately metered. Water is submetered. Tenants pay gas, electric and trash. Five units also pay water. All six units are leased at $14,657 per month. Four leases began in 2026. 8.0% cap rate and 9.4 GRM at list price on broker-estimated expenses. The front building is under LA rent stabilization. The ADUs are exempt per LAHD. Minutes to USC, Exposition Park and the Lucas Museum. Buyer to verify all figures, permits, unit count and square footage.

Property details

Bedrooms
16
Bathrooms
7
Square feet
5,193
Year built
1922
Property type
Residential Income
Lot size
5,510 sqft

Location

324 W 51st Street • Los Angeles, CA 90037

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Listed by

Nicholas Hedberg · Beverly & Company Luxury Properties

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Sale history for 324 W 51st Street

Listing courtesy of Beverly & Company Luxury Properties. Information deemed reliable but not guaranteed.

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